Vela International Marine

Vela International Marine Limited, commonly known as Vela, is a maritime transportation company focused on the ocean carriage of crude oil. Established in 1984, the company was created as part of the Saudi energy and shipping ecosystem and operated a large tanker fleet serving both international and domestic routes. Its principal assets have been very large crude carriers (VLCCs), supplemented by Aframax and medium-range tankers. Vela's business model is centered on owning and operating oceangoing petroleum tankers rather than selling a consumer product. The fleet transports crude oil in bulk between loading terminals, refineries, storage facilities, and other destinations. Reference material describes Vela as one of the world's largest VLCC owners, with a fleet of approximately 29 oil tankers at the time described, including 22 VLCC vessels, one Aframax tanker, and four medium-range tankers in an operational profile. Reported fleet capacity includes vessels capable of carrying roughly 2.1 million barrels per VLCC voyage, approximately 0.6 million barrels per Aframax voyage, and approximately 0.3 million barrels per medium-range-tanker voyage. The company was formerly owned by Saudi Aramco. In 2012, ownership of Vela was transferred to Bahri in a transaction reported at $1.3 billion. The transaction brought Vela's tanker operations into Bahri's broader national and international maritime transportation group and represented a major structural change in the company's corporate ownership. Vela also became internationally known because of the 2008 hijacking of its tanker MV Sirius Star by Somali pirates. The vessel was seized on 15 November 2008 and released on 9 January 2009 after a reported ransom payment of $3 million. The incident highlighted the security exposure faced by large commercial tankers operating near piracy-affected waters, although it was an event affecting a Vela vessel rather than a consumer-facing brand controversy. Available reference material reports that Vela employed approximately 1,100 people worldwide, conducted about 1,000 voyages per year, and transported approximately 3 million barrels of oil per day in the cited operating profile. It also indicates that about 83% of transported volume was international and 17% domestic. These figures are presented as historical or source-specific operating statistics and should not be treated as current without a dated company disclosure. Vela's current corporate identity is therefore best understood as a specialized tanker-owning and ship-operating business within Bahri, with crude-oil logistics as its defining activity.

Vela International Marine Limited was established in 1984 as a Saudi-associated marine transportation company. Its core role was the ownership and operation of oil tankers used to move crude petroleum by sea. Rather than operating as a consumer brand, Vela functioned as a specialized shipping enterprise serving the energy supply chain. The company's fleet developed around very large crude carriers, or VLCCs, which are designed to transport substantial volumes of crude oil over long distances. Reference material also identifies Aframax and medium-range tankers within the fleet. A fleet list associated with the company includes vessels such as Albutain Star, Almizan Star, Antares Star, Aries Star, Capricorn Star, Janah Star, Leo Star, Pisces Star, Saiph Star, Sirius Star, Vega Star, and Zaurak Star, among others. The listed vessels vary in size and carrying capacity, with the largest ships reported at approximately 319,500 deadweight tonnes and smaller tankers serving medium-range or regional roles. Vela's operations included both international and domestic transportation. A cited operating profile describes approximately 3 million barrels transported per day, with 83% of that activity international and 17% domestic. The same material reports approximately 1,000 voyages per year and a workforce of about 1,100 employees worldwide. Because the source does not provide a publication date for these operational statistics, they are historical reference figures rather than confirmed current metrics. On 15 November 2008, Vela's tanker MV Sirius Star was hijacked by Somali pirates. The ship's seizure became one of the better-known piracy incidents involving a large crude-oil carrier. Sirius Star was released on 9 January 2009 after a reported ransom of $3 million. The episode placed Vela within wider international discussions about maritime security, piracy deterrence, and the risks faced by tankers transiting vulnerable waters. A major corporate turning point occurred in 2012, when Bahri acquired Vela from Saudi Aramco. The reported transaction value was $1.3 billion. Before the deal, Vela was owned by Saudi Aramco; afterward, it became part of Bahri's maritime portfolio. This change aligned Vela's tanker fleet and operating capabilities with Bahri's broader shipping activities. Reference material describes Vela as the sixth-largest VLCC owner in the world and reports a fleet of approximately 29 oil tankers, most of them VLCCs. The exact composition of the fleet may change over time through acquisitions, disposals, charters, or reflagging, so individual vessel listings and fleet totals should be treated as source-period information. The company's defining identity remains that of a large tanker owner and operator within the Bahri group, focused on crude-oil marine logistics.

• 2012

  Ownership transferred to Bahri

  [1]Vela International Marineen.wikipedia.org

  Bahri acquired Vela from Saudi Aramco in a reported $1.3 billion transaction.

• 2009

  Sirius Star released

  [1]Vela International Marineen.wikipedia.org

  MV Sirius Star was released on 9 January 2009 after a reported $3 million ransom payment.

• 2008

  Sirius Star hijacked

  [1]Vela International Marineen.wikipedia.org

  The Vela tanker MV Sirius Star was hijacked by Somali pirates on 15 November 2008.

• 1984

  Vela established

  [1]Vela International Marineen.wikipedia.org

  Vela International Marine was established as a Saudi-associated oil-tanker and marine transportation company.

A large-scale, asset-owning crude-oil shipping operator positioned around VLCC capacity, fleet reliability, and integration with the Bahri maritime group.

• Crude-oil tanker transportation

  VLCC fleet

  Vela's principal operating line is its fleet of very large crude carriers. These ships transport large crude-oil cargoes on long-distance international routes and form the central capacity of the company's tanker business. The cited fleet profile identifies 22 VLCC vessels with an approximate capacity of 2.1 million barrels per voyage.

• Crude-oil tanker transportation

  Aframax tanker operations

  Vela's fleet has also included an Aframax tanker category, serving crude-oil movements requiring less capacity than a VLCC. The cited operating profile lists one Aframax tanker with an approximate carrying capacity of 0.6 million barrels per voyage.

• Petroleum tanker transportation

  Medium-range tankers

  Medium-range tankers complement Vela's VLCC operations by supporting smaller cargoes and routes where a very large crude carrier is unsuitable. Reference material identifies four medium-range tankers with an approximate capacity of 0.3 million barrels per voyage.

• 2012

  Bahri acquisition of VelaM&A

  Background

  Vela was owned by Saudi Aramco and operated a substantial crude-oil tanker fleet. Bahri sought to acquire the company and incorporate its shipping capabilities into the Bahri group.

  Action taken

  Bahri acquired Vela from Saudi Aramco in a transaction reported at $1.3 billion.

  Aftermath

  Vela became Bahri-owned, linking its tanker fleet and operations to Bahri's wider maritime transportation business.

  Reported acquisition value. $1.3 billion (2012)

  Source

1. 1Vela International Marineen.wikipedia.org